EMPLOYEE BENEFITS
Flex paves the way for harmonisation of terms and conditions
Zurich Life, an insurance company, introduced flexible benefits to smooth the harmonisation of its terms and conditions in the wake of a complex merger. Industrial Relations Services talked to Alan Measures, the firm’ s reward strategy manager, to discover the thinking behind the launch of the package.
In the latest article in a series looking at flex provision in the UK, Pay and Benefits Bulletin, a fortnightly journal published by IRS, investigates the rationale underpinning flex at Zurich Life.
What you will find in the four-page IRS case study of Zurich Life
why flex was introduced
insights into how it was used to facilitate the harmonisation of terms and conditions across the newly-merged business
a summary of the benefits available
how it works
experience to date
lessons learnt.
Words of wisdom
Measures’ advice to those thinking of introducing flex:
First, do it. Second, you’ ve got to be ready for the administrative upheaval, for the time it will take and the pressure it will put on existing systems — for example, it will almost certainly expose flaws in the quality of data held on staff. It’ s easy to underestimate what needs to be done, but if handled well flex should be a ripe benefit.
Want to know more?
Title: The joy of flex , Pay and Benefits Bulletin 502, August 2000.
Availability: contact the subscriptions department at Industrial Relations Services in London, tel: 020 7354 5858, or for editorial enquiries email the editor jeremy.baugh@irseclipse.co.uk
Web: for details of all IRS publications and conferences, jump to . . . www.irseclipse.co.uk